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Fri 16 Aug 2019 09:50 AM

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Bahrain's Ithmaar says planning to delist from Boursa Kuwait

Ithmaar Holding says it will remain listed on Bahrain Bourse and Dubai Financial Market after Kuwait exit

Bahrain's Ithmaar says planning to delist from Boursa Kuwait
Ithmaar Holding said its plans to voluntarily delist from Boursa Kuwait will have no effect on its subsidiary, Ithmaar Bank or any of its customers or investors.

Ithmaar Holding, a Bahrain-based company that is licenced and regulated as an investment firm by the Central Bank of Bahrain, has announced plans to voluntarily delist from Boursa Kuwait.

The company said it will continue to list on the Bahrain Bourse and Dubai Financial Market.

The announcement, by Ithmaar Holding chairman Prince Amr Al Faisal follows the board's review and approval of the plan, which will be presented to shareholders for approval.

The plans are subject to the approval of relevant authorities in Kuwait and Bahrain, the company said, without giving a reason for the delisting.

Ithmaar Holding said its plans to voluntarily delist from Boursa Kuwait will have no effect on its subsidiary, Ithmaar Bank or any of its customers or investors.

In May, Ithmaar Holding reported a net profit of $8.62 million for the three-month period ended March 31, an increase of 79 percent compared to the same period in 2018.

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